Really dissatisfied with my trading today - was up $400ish out the gate, but then made some sluggish trades in $COOL, and gave more than half of it back, and rest of it as the day progressed, mainly on $LOCM and $MNOV
First trades on COOL and 2-3 trades on LOOK were pure silly - sort of revenge trade for missing out on a big move, something I'll need to work on.
Missed a few big moves today, which is not something to cry about, rather be more patient with winners (HMNY, LOOK, CDZI)
Silly chase trade with too much size on a sympathy play $LOCM and MNOV recycled news play cost me most of the am's gains.
Need to get back to the rhythm I had last week, and not trade as much!
--- A $500 surge in the last hour brought me back to green for the day ($ENZN $LOOK)
I was about to call it a day at -$500 at 8pm when things weren't going my way. Glad I stayed
Trades:
$BIOC started building a position in pre to sell on pre pops or at the open; added when it formed a bull flag, with the intention of selling at least half before the open depending on the action; sold 2/3 5min before the open, just to get a clear head should it dip for adds; sold into the opening pop
$NYMX inexcusable chase in pre ... doh... had to cut it for -$150
$RNN got lucky with quick fills on news; in at .80 out high .80s
$COOL had some o/n bad avg, gladly sold before the open for a small profit; didnt know it was going to move to 2+ ...
$SGNL on a dip - worked well
$COOL on a dip; didnt work, reversed to short later and made some back ... then some bad old habits kicked in, and instead of waiting for a good setup i just went long/short/long/short on a flat line, losing on every trade, until finally it decided to flush and i managed to catch most of that move; // overall terrible trade, some of it stems from me missing out the big move to 2+ and wanting to make up for it;
$VGGL tried a few times until it finally worked
$VLTC tiny 200sh position; no real reason to sell except i was scared ... missed a nice move
$VLTC another 100sh long here
$COOL shorted again here - covered into the dips; still down on COOL overall
$LOOK longed some for a quick scalp, alas it halted as soon as i bought; sold when it unhalted; in 1.20 out 1.30 and 1.40; it shortly thereafter almost hit 2 - lesson here is even if it's up 140%, i should save some until volume comes in; it's the volume that matters, not how much it's gone up; gave it back (was $60) and then some like a chump in a 2 subsequent trades;
$LOCM allegedly sympathy to VLTC LOOK, tried a few jic (not something i should be doing really. too illiquid and spready) - this time it worked for a few pennies; rebought later when looked like it has more momentum and alas it did not ... sold 70 re-adds at .64 for a stinky loss; not acting on "sympathy" plays is one of my rules - that's what happens when I break my rules
Additionally the re-add was purely emotional, it was above my sells and looked to go higher, so i chased not to miss the move. #fail
$CDZI quick flip on news (short); in 9.30 out 9.15 - didnt trust it to hold longer - looked at daily and it seems to have been at lows; another huge miss here, had 1000sh ... it quickly dropped to mid 8s
$HMNY saw some vol come in and took a position, again not my finest hour as it's sort of gambling, but with a float as tiny as this and a nice setup on the daily, it might move; and it did; will look for spread to tighten and more vol to flow before i enter on a dip
$LOOK took some long on this setup; made some back
$LOOK again here small
$VIRC popped on scanner; 3.15 was too heavy on the offer, so i got out at 3.14
$MNOV bought on news ... it didnt go up.. should have sold, instead let it go against me and suffered a big loss
$VGGL nice setup here; sold half for a profit and half for a bigger loss, glad i hit my stop right before it dropped further 5c
$LOOK again on this setup; nice trade
$LOOK again
$ENZN took some on $VLTC ridiculous momo; they sold so much into 1.40 that i took 3/4 off there
$HMNY bought some 3.20s for gapper, sell order hit at 3.44
P&L:
Lessons:
- With big moves found early(ish) wait for volume to sell into, dont sell just because it's up so much (RE $LOOK)
- If a trade feels wrong - get out immediately, dont try waiting for a bounce that might not come ($MNOV)
- Be selective with news plays - try sticking to "fresh" tickers, don't buy news for a company that had news recently ($MNOV)
- Always be there for the final hour
Trades:
$BCLI tiny scalp in pre on news; sold half for a profit and then it started tanking; sold rest for small loss; adding it to ban list on news
$BIOC started building a position in pre to sell on pre pops or at the open; added when it formed a bull flag, with the intention of selling at least half before the open depending on the action; sold 2/3 5min before the open, just to get a clear head should it dip for adds; sold into the opening pop
$NYMX inexcusable chase in pre ... doh... had to cut it for -$150
$RNN got lucky with quick fills on news; in at .80 out high .80s
$COOL had some o/n bad avg, gladly sold before the open for a small profit; didnt know it was going to move to 2+ ...
$SGNL on a dip - worked well
$COOL on a dip; didnt work, reversed to short later and made some back ... then some bad old habits kicked in, and instead of waiting for a good setup i just went long/short/long/short on a flat line, losing on every trade, until finally it decided to flush and i managed to catch most of that move; // overall terrible trade, some of it stems from me missing out the big move to 2+ and wanting to make up for it;
$VGGL tried a few times until it finally worked$VLTC tiny 200sh position; no real reason to sell except i was scared ... missed a nice move
$VLTC another 100sh long here
$COOL shorted again here - covered into the dips; still down on COOL overall
$LOOK longed some for a quick scalp, alas it halted as soon as i bought; sold when it unhalted; in 1.20 out 1.30 and 1.40; it shortly thereafter almost hit 2 - lesson here is even if it's up 140%, i should save some until volume comes in; it's the volume that matters, not how much it's gone up; gave it back (was $60) and then some like a chump in a 2 subsequent trades;
$LOCM allegedly sympathy to VLTC LOOK, tried a few jic (not something i should be doing really. too illiquid and spready) - this time it worked for a few pennies; rebought later when looked like it has more momentum and alas it did not ... sold 70 re-adds at .64 for a stinky loss; not acting on "sympathy" plays is one of my rules - that's what happens when I break my rules
Additionally the re-add was purely emotional, it was above my sells and looked to go higher, so i chased not to miss the move. #fail
$CDZI quick flip on news (short); in 9.30 out 9.15 - didnt trust it to hold longer - looked at daily and it seems to have been at lows; another huge miss here, had 1000sh ... it quickly dropped to mid 8s
$HMNY saw some vol come in and took a position, again not my finest hour as it's sort of gambling, but with a float as tiny as this and a nice setup on the daily, it might move; and it did; will look for spread to tighten and more vol to flow before i enter on a dip
$LOOK took some long on this setup; made some back
$LOOK again here small
$VIRC popped on scanner; 3.15 was too heavy on the offer, so i got out at 3.14
$MNOV bought on news ... it didnt go up.. should have sold, instead let it go against me and suffered a big loss
$VGGL nice setup here; sold half for a profit and half for a bigger loss, glad i hit my stop right before it dropped further 5c
$LOOK again on this setup; nice trade
$LOOK again
$ENZN took some on $VLTC ridiculous momo; they sold so much into 1.40 that i took 3/4 off there
$HMNY bought some 3.20s for gapper, sell order hit at 3.44
P&L:
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